credit card

What Is a Credit Card?
There are two credit card groups : consumer credit cards and business credit cards. Most cards are plastic, but some are metal cards (stainless steel, gold, palladium, titanium) and a few gemstone-encrusted metal cards.
How credit cards work
- Credit cards are rectangular pieces of plastic or metal that can be used to pay for new purchases by swiping, tapping or inserting your card into a card reader at checkout.
- Plus many cards allow you to complete balance transfers, which provide the opportunity to get out of debt.
- When you open a credit card, you receive a credit limit that can range from a couple hundred to thousands of dollars. You’ll be able to spend up to that limit.
- When you make a purchase with your card, it will show up as pending on your account and post within a few days.
- Once the transaction is posted to your account, your total balance will increase.
- Expect to receive a bill from your card issuer every month that consists of all the posted purchases you made during your billing cycle.
- In order to keep your account in good standing, you’ll need to pay at least the minimum amount by your due date (which is the same date every month).
- Most cards offer grace periods, which allow you to pay off your balance interest free for a minimum of 21 days from the end of a billing cycle.
Common credit card terms
Credit cards come with dozens of terms that determine what fees you can incur from using your card. Here are the most common terms:
Balance transfer APR: The interest rate for balance transfers, which may be equal to or greater than the purchase APR.
Balance transfer fee: Transferring debt from one card to another may cost you 3% to 5% per transfer.
Cash advance APR: The interest rate you incur if you take out a cash advance, which is often one of the highest APRs you can be charged.
Cash advance fee: The fee you’re charged for each cash advance, usually 5%.
Foreign transaction fee: Purchases made outside the U.S. may incur a fee per transaction, usually 3%.
Late payment fee: When you pay your credit card bill late, you may incur a fee up to $40.
Minimum payment: The smallest amount of money you have to pay each month to keep your account current. (Learn how making only minimum payments on credit card debt could cost you thousands and take over a decade to repay.)
Penalty annual percentage rate (APR): When you pay late, card issuers may penalize you with an interest rate that’s higher than your regular APR.
Purchase APR: The interest rate you incur for new purchases that aren’t paid in full every billing cycle.
different kinds of credit cards
Every rupee you spend with an air miles card will offer air mile points to your card account. Upon accumulating the air mile points, you can redeem them for free flight tickets or other goodies available on the redemption catalogue.
How To Use Your Credit Card Right:
- Read the fine print so you’re aware of all the charges and conditions that govern your card.
- Don’t spend more than you can pay back.
- Avoid putting daily purchases on your card so that you’re aware of how much you’re spending.
- Periodically check your credit limit and rein in spending when you’ve crossed 40% of your available credit limit.
- Choose an EMI option for large purchases put on your card to avoid having to pay interest on outstanding card amounts.
- Always keep at least 40% of your credit limit for emergencies.
- Plan your purchases and use your card only for planned purchases. Avoid impulse buys on your credit card.
- Always try to pay your credit card bills in full each month to avoid the interest charges.
- Never miss a card payment, as this will result in higher charges and a hefty penalty.
- Approach the bank if you’ve overspent on your card. They could help you devise a pay-back plan with a fixed rate of interest to avoid you falling deeper into debt.
- Use the above tips to avoid the pitfalls of card debt so you can enjoy a stress-free future with your credit card.

Benefits Of Credit Card
- Convenience : Why carry wads of cash around when you can pay with a simple swipe of your card? A Credit Card is one of the simplest ways to pay for anything – no more counting out change or writing cheques, just present the plastic! You can even link your card to your digital wallet, which allows you to scan and pay without even having to carry your card in your wallet.
- Recurring payments : While Credit Cards are great for one-time payments, you can also set it up to automatically make recurring payments such as your phone, electricity or gas bills. No more will there be a chance of forgetting to pay bills on time and facing penalties or disconnection.
- Recharges and tickets : One of the biggest Credit Card benefits over cash is the ability to pay for a wider range of online services. For example, you can’t buy flight tickets or recharge your mobile phone with cash on delivery. You can easily pay for them through a Credit Card.
- Interest-free credit : A Credit Card comes with a grace period between purchase and payment (could be up to 50 days) during which the bank does not charge any interest. This is a perfect example of buy now and pay later.
- Rewards : Every time you pay using Credit Card, you earn Rewards. You can redeem these rewards for exciting gifts and vouchers such as free shopping trips or even free flight tickets.
- CashBacks and discounts : From fuel surcharge waivers to great online shopping deals, Bank Credit Card opens the doors to a host of CashBacks offers and Reward Points, especially with selected offline and online merchants.
- Travel in style : The Bank Credit Card makes your travel a more pleasant experience with free access to exclusive airport lounges, priority check-in and boarding, extra luggage allowance, etc.
- Expense tracker : Credit Card statements are a great way to track your expenses every month since it provides you with an itemised account of your expenditure.
- Safer : One of the benefits of Credit Card in India is that it’s much safer than carrying large amounts of cash around. You don’t have to worry about dropping the money somewhere or having your pocket picked. If you lose the card, you can get a replacement after you notify your bank.
- Credit score : Most people are not aware of this, but a Credit Card benefits your credit score. Organisations like CIBIL give credit scores to individuals depending on how prompt they have been in their payments. Using a Credit Card and repaying on time provides a boost to your credit score. A good credit score means you will be able to obtain Loans and Credit Cards quickly in the future. It’s one of the Credit Card benefits cash or cheques cannot offer!
What Is CIBIL score ?

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Eligibility For Credit Cards
Residential status
Income
Age
Credit history
Bank account
documents required for Credit Card
Address Proof - Aadhar card , Passport , Voter ID card , Driving License , Ration card , Lease/Rent agreement , Property Documents , Utility Bills .
Income Proof - Salary Slip ( last 3 months ), Bank Statement ( last 3 months ), ITR, etc...

How to apply for a credit card
Compare offers - Do your research to find out which card is best for you, paying special attention to annual fees and interest rates. We recommend starting with this list of the best credit cards available now. Make sure to pay attention to ongoing rewards as well as any sign-up bonus offered to new cardholders.
Fill out an online application - Once you've made your selection, look for an "Apply Now" button on the site, and it should take you directly to an application. Questions may differ slightly, but be prepared to provide a combination of biographical and financial info including your name, address, and Social Security number, as well as annual income, monthly expenses, and the balance in your existing bank accounts.
Submit your application - Once you've submitted your application, it's time to sit back and wait for a decision. Some issuers are faster than others, but typically you should hear back one way or another within 10 to 14 business days.
Receive your card - If you're approved, you should receive your new credit card within another 10 to 14 business days, although it's often possible to expedite delivery for certain extenuating circumstances. From there, you'll need to activate your card, and then you're free to start making purchases.
About Us
Euro Nexus Dinero Marketing PVT. LTD is mainly focus to connect merchants, consumers, card brand networks and financial institutions with advance trands. Credit card companies are the banks and credit unions that issue credit card to consumers and small business owners. Euro Nexus Dinero Marketing Company provides new credit card to the valid and valiable customers. Also, we delivers necessary services to the cardholders regarding purchases, accepting payments, distributing rewards and suggest a fine solution to the problem arraise in credit card.
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